Legal Opinion

Tennessee v. Bank of Commerce

U.S. Circuit Court for the District of Western Tennessee

Decided March 15, 1892PublishedCited by 2 opinions

In Equity. Bill by tbe state of Tennessee and others against the Bank of Commerce and others, filed in the chancery court of the state, to collect taxes assessed on the capital stock of the bank. The cause was removed to the United States circuit court as involving a federal question. Heard on bill and demurrer.

1Opinion of the CourtHammond, J.

The charter of the defendant bank contains this clause:

“Said institution shall have a lien on the stock for debts due it by the stockholders before and in preference to other creditors, except the state for taxes, and shall pay to the state an annual tax of one half of one per cent, on each share of capital stock, which shall be in lieu of all other taxes.”

This bill is filed to collect taxes for the years 1887 to 1891, inclusive, amounting in the aggregate to $46,068.75. The taxes are assessed under acts of the legislature, which provide, among other things, as follows:

“And in cases in which,…

2Cases cited8 opinions

Farrington v. TennesseeSupreme Court of the United States · 1878
Tennessee v. WhitworthSupreme Court of the United States · 1886
New Orleans v. HoustonSupreme Court of the United States · 1886
Bank of Redemption v. BostonSupreme Court of the United States · 1888
Gilchrist v. ClarkeTennessee Supreme Court · 1888

3 more not listed; retrieve them via the Exa API.

3Cited by2 opinions

Bartley v. RoweCourt of Appeals of Kentucky · 1961
Milam Bldg. Co. v. DannelleyCourt of Appeals of Texas · 1933